hi introduces personal IBANs for Euro and Pound Sterling deposits and withdrawals
By Joy Dumasia
hi, the next-gen fiat/crypto mobile banking platform introduces personal International Bank Account Numbers (IBANs) for Euro and Pound Sterling deposits and withdrawals, turning hi into a seamless digital banking platform for both fiat and crypto.
Eligible hi account holders can activate a personal IBAN, an internationally accepted numbering system that identifies individual bank accounts worldwide. This will allow them to seamlessly fund their hi account with EUR or GBP and send and receive money to and from other people’s bank accounts through SEPA and FPS, the world’s fastest, most secure payments systems.
Sean Rach, Co-Founder of hi, said: “In rapid time, our proposition for trading, saving and spending crypto and fiat via one financial super app is market-leading. Users looking for the most frictionless exchange experience, as well as uber-convenient on-and-off-ramps for fiat currencies, need look no further.”
Initially, the personal IBAN service may be activated via the app by hi members from the UK and EEA countries at no cost and those with a Gold membership tier or above outside of the UK and EEA.
This latest announcement from hi, who has 3+ million members just a year since launching, comes weeks after the news of a global debit card and card rewards program and deposit support for 4 fiat currencies (GBP, EUR, HKD, USD).
“Only time will tell how quickly the market can bounce back,” says Mr. Rach. “But we expect rapid uptake of our IBAN offering, not least in countries like Italy and France where we already have 350,000+ and 130,000 members respectively. We are confident of taking a significant portion of the market as users look for better experiences than our competitors who continue to nickel-and-dime on fees.”
IBS Intelligence reported that hi, the crypto exchange upstart and mobile banking platform, have announced a strategic agreement with Contis, a leading Banking-as-a-Service (BaaS) provider in Europe. The partnership with Contis means that later this year, eligible hi members will be able to seamlessly spend their digital assets at over 60 million merchants using a hi Debit Card.
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